WATERLOO, Ont. – BlackBerry says its board has launched a formal review of its “strategic alternatives” — including the possibility of selling the smartphone company.
The company says the review could result in BlackBerry forming joint ventures, strategic partnerships or a sale of BlackBerry.
The announcement comes amid unconfirmed reports that the Waterloo, Ont.-based company (TSX:BB) may go private.
A going-private move would result in one or more investors buying out other BlackBerry shareholders and delisting the stock from public markets.
BlackBerry says Prem Watsa, one of its key shareholders, has resigned his seat on the BlackBerry board due to potential conflicts of interest.
Watsa joined the board in early 2012 as part of attempts to revitalize the company, previously called Research In Motion.